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Share Name | Share Symbol | Market | Type |
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Osisko Exploration Ltee Com Npv | TSXV:OSK | TSX Venture | Common Stock |
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0.00 | 0.00% | 0 | - |
MONTREAL, QUEBEC (FRANKFURT: EWX) is pleased to announce new results from the 30m x 30m infill drilling program at its 100%-owned Canadian Malartic gold property. Highlights from holes CM07-1101 through to CM07-1250 are summarized below and include intersections that were either longer or better grade than expected from the resource model, as well as new mineralized intersections in areas where barren rock was anticipated. All other results from the infill program, including sterilization holes immediately outside the deposit, are in line with expectations and continue to confirm the integrity of the resource model for the deposit.
Intercepts that produced better-than-anticipated results include 150.9 m averaging 2.10 g/t Au (CM07-1144) and 184.0 m averaging 1.27 g/t Au (CM07-1160). Details from seven selected holes are tabled below:
Hole No. Section From (m) To (m) Length (m) Au g/t CM07-1109 3580E 216.5 278.5 62.0 1.48 And 302.5 468.5 166.0 0.66 CM07-1118 3580E 13.0 168.4 155.4 1.15 CM07-1125 4215E 164.5 323.4 158.9 0.97 CM07-1140 3610E 36.4 331.6 295.2 0.84 including 91.0 140.0 49.0 1.71 CM07-1144 3820E 136.1 287.5 150.9 2.10 including 243.5 279.0 35.5 4.66 CM07-1160 3610E 32.0 216.0 184.0 1.27 including 121.4 157.5 36.1 2.38 CM07-1161 3610E 47.0 69.5 22.5 3.52 including 65.1 69.5 4.4 10.9
New drill intercepts from areas that were not known to contain mineralization include 43.2 m averaging 2.62 g/t Au (CM07-1112) and 32.5 m averaging 1.41 g/t Au (CM07-1204). Details from the nine holes that intersected new mineralization are tabled below:
Hole No. Section From (m) To (m) Length (m) Au g/t CM07-1112 3260E 45.3 88.5 43.2 2.62 And 262.0 303.5 41.5 1.36 CM07-1126 3230E 52.0 62.0 10.0 1.59 And 113.3 128.0 14.7 0.50 And 150.5 183.5 33.0 1.07 CM07-1129 3230E 29.0 35.0 6.0 4.80 And 90.0 105.0 15.0 0.99 And 164.5 190.0 25.5 1.28 CM07-1133 3230E 23.5 31.0 7.5 6.49 CM07-1135 3200E 74.5 115.0 40.5 0.53 CM07-1146 4185E 103.0 146.6 43.6 0.80 And 179.5 228.5 49.0 1.03 CM07-1204 3702E 20.0 52.5 32.5 1.41 CM07-1242 4430E 307.5 346.0 38.5 1.08 CM07-1245 4060E 11.7 37.0 25.3 1.09
Drill holes CM07-1112, -1126, -1129, -1133 and -1135 constitute a western extension to the F zone mineralization. Drill hole CM07 -1242 represents a depth extension to known mineralization, whereas drill holes CM07-1146, -1204 and -1245 represent new mineralized shoots in the south-central portion of the deposit.
The 30 x 30 metre infill drill program is designed to collect data for a NI 43-101 compliant Measured and Indicated ("M&I") resource estimate on the main portion of the deposit between lines 3140E and 4580E. This represents a distance of 1440 metres, which is 77% of the known 1860 metre length of the deposit. Drilling for this infill program has now been completed and core is being logged, sampled and analyzed. Osisko plans to release the M&I resource estimate on this portion of the deposit in Q2 2008. The 30 x 30 metre infill drill program is slated to continue to line 5000E during the remainder of Q1 and during Q2 2008.
All NQ core assays were conducted using standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding property. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.
Contacts: Osisko Exploration Ltd. John Burzynski Vice-President Corporate Development 514-735-7131 www.osisko.com Osisko Exploration Ltd. Daniel Boase Investor Relations 416-742-5600 Toll Free: 1-866-580-8891
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